Tower Research Capital LLC TRC Increases Position in CenterPoint Energy, Inc. (NYSE:CNP)

Tower Research Capital LLC TRC grew its holdings in CenterPoint Energy, Inc. (NYSE:CNPFree Report) by 90.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 72,888 shares of the utilities provider’s stock after buying an additional 34,518 shares during the period. Tower Research Capital LLC TRC’s holdings in CenterPoint Energy were worth $2,082,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in CenterPoint Energy during the fourth quarter worth about $94,750,000. Goldman Sachs Group Inc. lifted its position in shares of CenterPoint Energy by 96.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,958,562 shares of the utilities provider’s stock valued at $141,666,000 after acquiring an additional 2,428,640 shares during the period. Reaves W H & Co. Inc. increased its stake in shares of CenterPoint Energy by 391.0% during the 4th quarter. Reaves W H & Co. Inc. now owns 2,314,797 shares of the utilities provider’s stock worth $66,134,000 after purchasing an additional 1,843,333 shares in the last quarter. Stack Financial Management Inc purchased a new position in shares of CenterPoint Energy during the 4th quarter worth approximately $21,154,000. Finally, BNP Paribas Financial Markets increased its stake in shares of CenterPoint Energy by 290.7% during the 4th quarter. BNP Paribas Financial Markets now owns 699,782 shares of the utilities provider’s stock worth $19,993,000 after purchasing an additional 520,682 shares in the last quarter. 91.77% of the stock is owned by hedge funds and other institutional investors.

CenterPoint Energy Stock Performance

Shares of CNP stock opened at $30.17 on Monday. CenterPoint Energy, Inc. has a 12 month low of $25.42 and a 12 month high of $31.43. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.25 and a quick ratio of 1.06. The firm has a market capitalization of $19.30 billion, a P/E ratio of 21.25, a P/E/G ratio of 2.66 and a beta of 0.91. The company’s fifty day moving average price is $29.15 and its two-hundred day moving average price is $28.53.

CenterPoint Energy (NYSE:CNPGet Free Report) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.82 billion. CenterPoint Energy had a net margin of 11.03% and a return on equity of 10.57%. During the same quarter in the prior year, the business posted $0.50 EPS. On average, research analysts anticipate that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current fiscal year.

CenterPoint Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 16th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.65%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 56.34%.

Insider Activity

In other news, Director Barry T. Smitherman sold 5,670 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $29.42, for a total value of $166,811.40. Following the sale, the director now owns 21,203 shares in the company, valued at approximately $623,792.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

CNP has been the subject of several recent analyst reports. Mizuho reaffirmed a “neutral” rating and issued a $29.00 target price (down from $30.00) on shares of CenterPoint Energy in a research note on Wednesday, February 21st. Scotiabank lowered their price objective on shares of CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. KeyCorp boosted their price objective on shares of CenterPoint Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Barclays lifted their target price on shares of CenterPoint Energy from $28.00 to $29.00 and gave the company an “underweight” rating in a report on Thursday, March 14th. Finally, Guggenheim reduced their target price on shares of CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, CenterPoint Energy has a consensus rating of “Hold” and an average target price of $30.80.

Check Out Our Latest Stock Report on CenterPoint Energy

CenterPoint Energy Company Profile

(Free Report)

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.

Further Reading

Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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